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As the so-called Bush tax cuts near their expiration date at the end of 2012, more and more special dividends are being announced. If Congress doesn't act, dividends could be taxed at rates as high as 43.4% starting in 2013, versus the current 15%. Hence the rush to reward investors now by companies with excess cash and no particular place to use it, or by concerns that want to make changes to their financial structure. When a tax hike threatened two years ago, 281 companies made one-time payouts in November and December, up 37% from the preceding year. Another clutch of big specials were declared last week.

TransDigm GroupTDG -0.07207784407159733%TransDigm Group Inc.U.S.: NYSEUSD249.55
-0.18-0.07207784407159733%
/Date(1481301355197-0600)/
Volume (Delayed 15m)
:
101207
P/E Ratio
25.51490236382323Market Cap
13322595705.3766
Dividend Yield
N/ARev. per Employee
341012More quote details and news »TDGinYour ValueYour ChangeShort position
(ticker: TDG), a maker of ignition systems, cockpit-security devices and other aircraft components, said it will pay a special dividend of $12.85 a share, which is worth around $662 million to investors. Earlier this month, the company said it was planning a bonus payout of $450 million to $850 million. TransDigm distributed a $7.65 special in October 2009. It does not pay a regular dividend. At the stock's recent Big Board price of $147 a share, the bonus payout makes for an 8.7% yield.

With approximately $440 million of cash as of Sept. 30, revolving credit of some $300 million and strong ongoing cash generation, TransDigm believes it has adequate capital to meet its likely acquisition needs and to secure significant additional capital if an attractive larger opportunity presents itself.

Hospital operator
HCA Holdingshca 1.8059001929969671%HCA Holdings Inc.U.S.: NYSEUSD73.85
1.311.8059001929969671%
/Date(1481301375814-0600)/
Volume (Delayed 15m)
:
510107
P/E Ratio
11.63349131121643Market Cap
27179723119.5245
Dividend Yield
N/ARev. per Employee
176386More quote details and news »hcainYour ValueYour ChangeShort position
(HCA) will pay a $2.50-a-share special dividend, its second bonus this year. The disbursement is valued at $1.15 billion and follows a $2 bonus in February worth $982 million. Like TransDigm, HCA pays no regular dividend. Trading on the NYSE at a recent price of roughly $31, the bonus translates into an 8.1% current yield. Bain Capital Investors and KKR & Co., which each own around 20% of HCA, and another entity owned by those firms and affiliates of HCA's founders and holding 60% of the stock will reap the lion's share of the dividend.

TSR Inc.
TSRI -1.694915254237288%TSR Inc.U.S.: NasdaqUSD5.8
-0.1-1.694915254237288%
/Date(1481301040221-0600)/
Volume (Delayed 15m)
:
0
P/E Ratio
26.818181818181817Market Cap
11575800.2602577
Dividend Yield
N/ARev. per Employee
190643More quote details and news »TSRIinYour ValueYour ChangeShort position
(TSRI), which hasn't paid a dividend since February 2009, voted a special payout of $1.50 a share. Over the past three-plus years, the provider of computer programming consulting services used its cash reserves to finance its operations and support its growth following the recession. TSR trades on Nasdaq at $5 and change, which is a 52-week high. In its fiscal first quarter, ended Aug. 31, TSR lost $93,000 on flat revenue of $11.3 million because of spiraling costs associated with recruiting trainees and new sales hires.

Murphy OilMUR 0.5428226779252111%Murphy Oil Corp.U.S.: NYSEUSD33.34
0.180.5428226779252111%
/Date(1481301378536-0600)/
Volume (Delayed 15m)
:
223661
P/E Ratio
N/AMarket Cap
5710151872.52808
Dividend Yield
2.9949086552860136% Rev. per Employee
1526840More quote details and news »MURinYour ValueYour ChangeShort position
(MUR) announced a bonus dividend of about $500 million, or $2.50 a share, in connection with the planned spinoff of its U.S. fuel-making and distribution business into an independent and separately traded company, Murphy Oil USA. In addition, Murphy plans to spend up to $1 billion on stock repurchases, and will continue to try to sell its U.K. refining and fuel-marketing business. Simmons & Co. analysts think Murphy's moves could unlock up to $5 a share in "trapped enterprise value." The company enriched its quarterly common payout 14% in August, to 31.25 cents a share from 27.5 cents, for a 2% yield. The latter jumps to 6% with the special dividend. Murphy shares trade close to their 52-week Big Board high of $65.60, set Feb. 28.

UBS said recently that it thinks
Wynn ResortsWYNN 3.1084656084656084%Wynn Resorts Ltd.U.S.: NasdaqUSD93.54
2.823.1084656084656084%
/Date(1481301382015-0600)/
Volume (Delayed 15m)
:
3402304
P/E Ratio
44.382075471698116Market Cap
9229943400.56274
Dividend Yield
2.1256244021681368% Rev. per Employee
197729More quote details and news »WYNNinYour ValueYour ChangeShort position
(WYNN) could perhaps do a special dividend of more than $7 a share by year end. Wynn pays a regular quarterly of 50 cents, and was recently quoted at $116 on Nasdaq. UBS rates the stock Buy, with a target price of $129.

FOR THE SECOND TIME in 2012, mighty investment bank
Goldman SachsGS -0.3478981155518741%Goldman Sachs Group Inc.U.S.: NYSEUSD240.61
-0.84-0.3478981155518741%
/Date(1481301381142-0600)/
Volume (Delayed 15m)
:
1489491
P/E Ratio
19.099203187250996Market Cap
96012346653.2929
Dividend Yield
1.0847118212728677% Rev. per Employee
959701More quote details and news »GSinYour ValueYour ChangeShort position
(GS) is enhancing its quarterly common dividend. Payouts, which sat at 35 cents a share for six years, in April were hiked to 46 cents a share and then to 50 cents last Tuesday. Yield: 1.6%. Goldman posted third-quarter profit of $1.51 billion, compared with year-ago red ink of $393 million. Revenue more than doubled, to $8.35 billion. Goldman trades close to its NYSE 52-week high of $128.72, set March 27.